TH Real Estate Acquires SF SoMa Office
The 59,868-square-foot-office building is a 1912 warehouse that was converted into office in 1983.
By Ariela Moraru
539 Bryant St., San Francisco
San Francisco—TH Real Estate has acquired a 59,868-square-foot-office building at 539 Bryant St. in San Francisco’s South of Market submarket. The property is fully occupied by tenants such as HoneyBook, Life360, Sauce Labs, HKS Architects and Gigwalk.
“We have acquired a core asset that has the potential to offer premium-over-core returns throughout a long-term hold,” said Rich Kimble, senior director & head of the Northwest region for TH Real Estate, in prepared remarks. “We believe we can strategically manage tenant rollover and that the SoMa submarket – which is home to the city’s leading technology companies – will remain the epicenter for these tenants.”
The 4-story building was first developed as a warehouse in 1912, and then converted in 1983. PMI Properties sold the asset to Zurich Alternative Asset Management for $35.2 million in 2013. The asset features open floor plans, large operable windows, concrete floors, high exposed ceilings and gets abundant natural light.
The office building is located close to retail amenities, South Park, San Francisco Giants’ AT&T Park and Mission Bay. The property also offers easy access to the I-80, I-280, Highway 101, San Francisco Caltrain station, numerous Muni bus and light-rail stops and Central Subway line which is scheduled for completion in 2019.
Image courtesy of TH Real Estate
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